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_ ____ _ _ .� __ .�� � � � � ' RE HEGOROkd � ��0040� � � ��' �� 8� . �o �� � If► The method set to►th in thia Paragraph 3 oi this Adjusta6le Rate Rider,fo�dete�mining whether or not an adjusiment must bQ mado to iho Existing Interest Rate lncorqorAtes tha ef�acts ot th�pravisions of 2Q CFR 2�3,A9(e111) end 234.79te111)which require that changes in the Index in excess of one pereentage � point must be ca��ied over fo�inclusio�in ad�ustments to the Existing Interest Rate in subsequent years. �' (g1 If the Index is no longer avaitable, Mortgagee will be required to use any index prescribed by the Depsrtment ot Housing and Urban Develupment. Mortgagee will notify R4ortgagor i� w�iting of any � such substitute index(giving all�ecessary iniormation tor Nlo�tgagor to obtain such index)and after the date of such �otice the substitute index wiil be deemed to be the Index hereu�der. 4. (a1 If the Existing Inte�est Rate changes on any Change Date, Mortgagee will �ecalculate the monthly (nstallment payments of principal and interest to determine the amount which would be necessary to �epey in tuil,on the maturity date,the unpaid principal balance(which unpaid principal balance will be deemed to be the amount due o� euch Change Date assuming there has been no default in any peymo�t o�the Note but that all prepayments on the Note have heen taken iMo accountl.at the new Existing Interest Rate.in equal mnnthly payments. On o�before the Change Date. Mortgagee wiil give Mortgagor written�otice 1"AdJustme�t Natice") of any change in the Existing Inte�est Rate and of the revised amount of the monthly installme�t payments of principal and interest. calculated as provlded �bove.Each Adjustment Notice will set torth(i)the date the Adjustment Notice is given,(�i)the Change Date.(iii)the new Existing inte�est Rate as adjusted on the Change Date,tiv)the amount of the adjusted monthty installment payments,calculated as pravided above, tv) the Cur�ent index,(vi�the method of calculating the adjustment to the monthly instaliment Payments, and (vii)any oth�r information which � may be �equi�ed by law from time to time. (b) Mortgagor agrees to pay the adjusted mo�th(y installment amount beginning on the tirst payment date wltiich occurs at least thirty (30) deys atter Mortgagee has given the Acijustment Notice to Mortgago�. �• Mortgagor will continue to pay the adjusted monthly installment amount set forth in the last ' Adjustme�t Nvtice given by Mortgagee t� Mortgagor until the first payment date which occurs at least ' . thirty(30)days after Mortgagee has given a further Adjustment Notice to Mortgagnr. Notwithstanding � " anything to the contrary contained in this Adjustable Rate Rider or the Mortgage, Mortgagor will be ; �' �viio�&v L�oiiji t'iul��ai'vi�tv Nar,oi��'i iU18:2�'ay�c wii=�ieil8 i'uttCilC��l$t�,it lV 4'Vt1E'tit�aii�i ii�cico'sis'.i� �- - the monthty instaliment amount(caused by the�ecalculation of ss�ch amount unde�Subparag�aph 4(a11 for any payment date occu�ring less then thirty f30) days after Mortgagee has given the applicable � Adjustment Notice to MoRgagor. - (c) Notwithstanding anything contained in this Adjustable Fiate Rider, in the event that fi) the Existing . = Interest Rate was reduced on a Change Date,and (ii) Mortgagee failed to give the Adjustment Notice �� when required. and (iii) Mortgagor, consequently, has made any monthly instaliment payments in excess vt the amount which would have been set forth in such Adjustment Notice("Excess Payments"). °y . then Mortgagar,at Mortgagor's sole option,may either tl 1 demand the return from Mortgagee(who for • the purpose of this sentence will be deemed to be the mortgagee,or mortgagees, who received such k Excess Payments,whether o�not any such mortgagee subsequently assigned the Mortgage) of all or � • _ any portion of such Excess Payments,with interest thereon at a rate equal to the Index on the Change � � Date when the Existi�g Interest Rate was so �educed, from the date each such Excess Payment was . made by Mortgagor to repayment, or (2) request that all or any portion of such Excess Payments, :°lE�� : � together with ali interest thereon calculated as provided above, be applied as payments against �� principal. 5. Nothing contained in this Adjustable Rate Rider witl permii Mortgagee to accomplish an interest �ate - adjustment lhrough an increase (or decrease} to the unpaid principat bala�ce. Changes to the Existing Interest Rate may only be reflected tfirough adjustment to Mortgagor's monthty lnstallment payments of principal and interest. as provided for herein. BY SIGNING BELOW, Mortgagor accepts and agrees to the terms and covenants contained in this Adjusteble Rate Rider. �Q,A)t'1 � a "�,�-• (Seal) KEVIN R FRUIN -Mortgagor ,--_______- ��.�rn� ��_ �'t .J_ �.�t�,- ISeal) . PAMELA A FRUIN -Mortgagar I . _„�.� � � � (Seal) �t •Mortgagor �� � --� tp� _—_�,- !1's ��dY4: — ---------------�._ . _ ._ _ (Seall �, —